Luminent Mortgage Capital Inc. (NYSE:LUM) and Arco Capital Corporation Ltd. have entered into a Letter of Intent outlining current and proposed transactions intended to address Luminent’s current liquidity issues that arose due to unanticipated…
Reuters is reporting that Google (GOOG) has taken a stake in Chinese Chinese community Web site Tianya.cn, a move into social networking there. GOOG has stayed out of the business in the US but…
(AXP) American Express is selling its private banking unit.(CFC) Countrywide is laying off loan originators and support staff as applications are down and to cut costs.(CHINA) CDC Corp. announced a $225 million share stock…
Lowe’s (LOW) beat Wall St. forecasts and is trading up over 5% in the pre-market. LOW reported net earnings of $1.02 billion for the quarter ended August 3, 2007, a 9.0 percent increase over…
AGP raised to Buy at Jefferies.CCO raised to Outperform at Bear Stearns.DELL started as Buy at WRHambrecht.DLTR raised to Outperform at Wachovia.DRI raised to Outperform at CIBC.EQT started as BUy at Deutsche Bank.FLS raised…
Late word from The Inquirer is that AT&T (T) may cut the GPS function from the new RIMM (RIMM) Blackberry so that it will not steal from Apple (AAPL) iPhone sales. AAPL’s iPhone is…
Markets in Europe were higher at 5,40 AM New York time. The FTSE rose 1% to 6,126. BHP Billiton (BHP) was up 4.4% to 1278. GlaxoSmithKline (GSK) was up 1% to 1284. The DAXX…
The Nasdaq Stock Exchange (NDAQ) appears ready to dump its 31% holding in the London Stock Exchange and has hired JP Morgan (JPM) and UBS to find a buyer. According to MarketWatch, the NDAQ…
According to Reuters, the spotlight in an investigation of Dell’s (DELL) accounting practices will fall on whether company founder and CEO Michael Dell had any role in the restatement of numbers. Reuters writes that…
Markets in Asia were sharply higher. The Nikkei rose 3% to 15,732. Canon (CAJ) was up 7.2% to 5810. NEC (NIPNY) was up 4.8% to 528. Toyota (TM) was up 4.2% to 6450. The…
The New York Times Company (NYT) has done poorly in the stock market over the last couple of years. That does not make it different from any other large newspaper chain. But, some of…
Senior management at Chrysler has told The Wall Street Journal that the company plans to "expand outside North America by licensing vehicle production, outsourcing manufacturing and building cars in joint ventures with local partners."…
If you want to make CEOs look like buffoons, ask them questions with obvious answers and see if the get them wrong. According to Reuters: "Chief executive officers of companies listed on the New…
Reuters is wondering whether Michael Dell will get caught up in the investigation of Dell’s (DELL) accounting practices. Accountants at the company adjusted numbers to meet financial goals, according to an internal audit. The…
Everyone from the President of Venezuela to one of the big oil think tanks believes that oil could spike well above $70 and remain there. The elements that would contribute to a big rise…
It was a bit surprising to see Barron’s used Jim Cramer for the cover story. The article points out that Jim Cramer’s picks have lagged the market. For starters, Cramer rarely gives formal targets…
During the period that Ebay’s (EBAY) Skype VoIP operations were down, traffic to the skype.com website surged according to Alexa.com. Not that it did the visitors any good. Skype was off-line for well over…
Below are the top 10 US newspaper websites based on Nielsen NetRatings figures for July. Several are owned by public companies including The New York Times (NYT), Gannett (GCI), Washington Post (WPO), and Tribune…
The story of the week was the meltdown in the markets as various sources cited the credit crunch for selling that, at times took the major North American indices down 10%. Professional traders see…
Sony (SNE) has been hoping that the lagging sales of PS3 wold be helped by the release of some major video game titles. "Grand Theft Auto" from Take Two (TTWO) has been delayed, which…